Fluent (NASDAQ:FLNT) Stock Price Up 0.4% – Here’s Why

Fluent, Inc. (NASDAQ:FLNT) rose 0.4% during trading on Tuesday. The company traded as high as $2.87 and last traded at $2.76. Approximately 2,569 shares were traded during mid-day trading, The stock had previously closed at $2.75.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLNT. Lake Street Capital reiterated a “buy” rating and set a $5.50 price objective (up from $5.00) on shares of Fluent in a report on Tuesday, August 11th. Canaccord Genuity Group set a $4.50 target price on shares of Fluent and gave the stock a “hold” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.00.

Fluent Trading Up 0.4%

The firm has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $3.25.

Fluent (NASDAQ:FLNT) last issued its earnings results on Monday, August 10th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $48.45 million during the quarter, compared to analysts’ expectations of $44.64 million. As a group, equities analysts predict that Fluent, Inc. will post -0.52 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James Geygan acquired 12,376 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $3.38 per share, for a total transaction of $41,830.88. Following the completion of the acquisition, the director directly owned 3,137,960 shares of the company’s stock, valued at $10,606,304.80. The trade was a 0.40% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David Graff sold 25,000 shares of Fluent stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $3.00, for a total value of $75,000.00. Following the completion of the sale, the director owned 95,438 shares of the company’s stock, valued at $286,314. The trade was a 20.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have bought 27,575 shares of company stock worth $92,357 and have sold 28,830 shares worth $89,764. Insiders own 38.40% of the company’s stock.

Institutional Investors Weigh In On Fluent

Several large investors have recently modified their holdings of FLNT. Corient Private Wealth LP bought a new position in shares of Fluent during the second quarter valued at approximately $4,933,000. Tieton Capital Management LLC purchased a new position in Fluent during the second quarter valued at approximately $4,387,000. Sei Investments Co. raised its stake in Fluent by 117.5% in the first quarter. Sei Investments Co. now owns 508,110 shares of the company’s stock worth $1,606,000 after buying an additional 274,533 shares in the last quarter. Salvus Wealth Management LLC raised its stake in Fluent by 54.3% in the second quarter. Salvus Wealth Management LLC now owns 30,008 shares of the company’s stock worth $112,000 after buying an additional 10,560 shares in the last quarter. Finally, 4WEALTH Advisors Inc. raised its stake in Fluent by 27.1% in the first quarter. 4WEALTH Advisors Inc. now owns 22,237 shares of the company’s stock worth $69,000 after buying an additional 4,735 shares in the last quarter. Institutional investors own 23.33% of the company’s stock.

About Fluent

Fluent, Inc is a digital marketing and advertising technology company that helps brands and agencies acquire, engage and retain customers. Its services are designed to support performance marketing campaigns across digital channels, using audience data, targeting tools and campaign optimization capabilities.

The company provides solutions for programmatic advertising, customer acquisition, lead generation and audience engagement. Fluent’s offerings are intended to help advertisers reach relevant consumers, manage campaigns across multiple channels and measure marketing outcomes.